84 Qld construction firms on the brink of collapse: report

EIGHTY-four Gold Coast construction companies are on the brink of collapse, according to new data from insolvency group SVP Partners.

The group's August 2017 Commercial Risk Outlook report found 3.7 per cent of businesses in the industry were at high risk of insolvency.

The report comes in the wake of two major collapses in the space of a week - Queensland One Homes, which is in liquidation owing more than $3 million, and Commonwealth Games Village contractor Ware Building.

A third company linked to Queensland One Homes, Empire Constructions Pty Ltd, is under investigation for alleged illegal phoenix activity.

SV Partners director Matthew Bookless said Commonwealth Games spending had buoyed construction and infrastructure businesses on the Gold Coast but they would need to find new business soon.

More at Gold Coast Bulletin

Topics:  business construction

News Corp Australia

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